§ Mr. Beithasked the Chancellor of the Exchequer what is his estimate of the administrative cost falling on public funds of changing the rate of VAT from 10 per cent. to 8 per cent.
§ Dr. GilbertAbout £100,000.
§ Mr. Peter Reesasked the Chancellor of the Exchequer whether it is the practice of Her Majesty's Customs and Excise to decline to accept production for VAT purposes of the books of account and financial records of a taxpayer at the office of his duly accredited agent.
§ Dr. GilbertVAT control requires visits by officers to traders' premises for more than the examination of books and accounts. Officers are, therefore, instructed normally to require records to be produced at those premises.
§ Mr. Beithasked the Chancellor of the Exchequer what consultation he had with representatives of small traders, prior to his recent Budget Statement, about the difficulties and costs which they might incur as a result of changing the rate of VAT from 10 per cent.
§ Dr. GilbertCustoms and Excise consulted the representative trade associations last winter about the principles and procedures for any change in the standard rate of VAT. Associations representing small shopkeepers and businesses were among those consulted. The representations of these bodies were taken fully into account when Customs and Excise published two notices last May to assist traders to deal with a change in the standard rate of VAT with the minimum of difficulty and expenditure in time or money.